Economic Development

Computer for Economic Development

The Economic Development Division facilitates commercial real-estate development, attracts investment, and expands quality of life for the residents of Hartford across all neighborhoods. The Division achieves this by:

  • Attracting and retaining quality businesses
  • Engaging in revitalization activities in Hartford’s 17 neighborhoods
  • Increasing development partnerships with minority-, woman-, and locally-owned small businesses
  • Developing and maintaining community benefits agreements
  • Encouraging growth and community reinvestment through the disposition of City-owned property
  • Managing data and statistical information to help inform City and stakeholder decisions.

In addition, The Department of Economic Development works in partnership with the Hartford Redevelopment Agency which has special jurisdiction in fourteen established redevelopment areas.  Redevelopment projects in these areas and may also be eligible for specialized funding.

 

Hartford At-A-Glance

One of our partners AdvanceCT has prepared an interactive profile on Hartford that contains information about population, major employers, education, fiscal issues, labor force and housing. Check it out here!

 

Be on the lookout for our new Data platform coming Spring 2020

Business Incentive Zones

1. Promise Zones

The Federal Promise Zone initiative encourages collaboration between the federal government, community organizations, the private sector and state and local governments. The City of Harford has neighborhoods identified as Promise Zones. Projects located within Promise Zones receive priority points on federal funding applications. The anticipated outcome in these identified Promise Zones support the increase of jobs and economic opportunities that enable rural areas to thrive. Click here to find out more about the Mayor's North Hartford Promise Zone Initiative.

North Hartford Promise Zone Neighborhood Boundary Map(PDF, 6MB)


 

2. Enterprise Zones

In 1982, Connecticut was the first state in the country to establish a statewide Enterprise Zone Program. The Enterprise Zone Program designates distressed areas as areas of great opportunity. There are currently 43 designations in the state of Connecticut and Hartford is one of them. This designation allows businesses to receive tax incentives. For more information on specific incentives and an Overview on Enterprise Zones, visit the Department of Economic and Community Development page here.

Hartford Enterprise Zone Boundary Map(PDF, 933KB)


 

3. Opportunity Zones

An opportunity zone is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as opportunity zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service (IRS Definition).

 

What are Opportunity Zones meant to accomplish?

Opportunity Zones were designed to spur economic development and drive billions of dollars in long-term investment into low-income urban and rural census tracts. This incentive is designed to include local economies in communities that will intentionally benefit the people who live and work there and provide a secure return to investors.

What does this mean for Hartford?

Hartford has 10 Opportunity Zone designations. These Opportunity Zones contain 25% of Hartford's residents and represent the rich culture and diversity of the city at large. Substantial new private investment has flowed into these communities following a restructuring of the City's debt, and an update to the City's zoning code which has created new opportunities throughout the city. Easy access to innovation hubs, including accelerators, maker spaces, and the new UConn Downtown Campus, make Opportunity Zones in Hartford a smart investment.

 

To find out if your property is in an Opportunity Zone visit our:

Hartford GIS Planning Viewer

 


Current Projects

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Economic Development Division staff manage, oversee, and assist multiple projects across the city. The following are the list of those projects that the team is currently involved in, either as the property owner or as a financing partner.    

City-Owned Property

BrazaIn cities across the country, one can find properties that have been abandoned, blighted or that have fallen into receivership. The Economic Development Division works to restore City-owned properties to viable use. The City of Hartford has worked hard to combat this issue and has made real progress in getting City-owned properties into the hands of responsible developers and owners. 

procurement The disposition of City-owned property is subject to City of Hartford Purchasing and Procurement .

property  CLICK TO VIEW CITY-OWNED PROPERTIES